ITALIAN BANISHED
Damaged Nation’s Finances
“OUSTRIC AFFAIR” ECHO
Paris, January 24. A Turin message states that Gualino, the Italian magnate, charged with damaging the nation’s finances, has been banished for five years to Lipari Island, where he will be at the disposal of the Italian authorities. A French committee is inquiring into the Oustrlc affair.
Gualino. an international financier, was one of Italy’s biggest business men. He pioneered the artificial silk industry and led the life of “a grand seigneur,” had a magnificent picture gallery, and owned a Moorish castle on the Riviera and stud racehorses. He was arrested on an undisclosed charge on January 22. Gualino’s connection with the Oustric affair was revealed during the Paris inquiry, which culminated in the arrest on November 28 of M. Albert Oustric, the founder of the Oustric Bank and the moving spirit of Holdings Francaiso (Holfra), on charges of fraud and embezzlement amounting to over £10,000,000.
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Bibliographic details
Dominion, Volume 24, Issue 104, 27 January 1931, Page 9
Word Count
154ITALIAN BANISHED Dominion, Volume 24, Issue 104, 27 January 1931, Page 9
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